The run for the Turner Cup in 1992 actually began on March 3, 1991, before the 1990-91 inagural season was over. On that date, General Manager and Vice President Doug Soetaert completed an affiliation agreement with the San Jose Sharks of the National Hockey League. This affiliation would provide the Blades with the NHL team's top prospects.

The 1991-92 season began with a 10-0 record. During the annual American Royal road trip, the team went 9-4. To add to the team's league leading power, the Blades re-signed first season star Ron Handy. Handy led the team in scoring during the 1990-91 season. On December 13, the Blades got their first shutout victory against the San Diego Gulls.

With the great start the Blades had to the season, several members of the team became mid-season All-Stars. Head Coach Kevin Constantine, goaltenders Arturs Irbe and Wade Flaherty, forwards Gary Emmons and Jeff Madill, and defenseman Pat MacLeod all made the trip to the mid-season classic in Atlanta, Georgia.

On March 26, the Blades won against the Phoenix Roadrunners to clinch the Western Division title. On April 3, they beat the San Diego Gulls to win the IHL Huber Trophy for having the most points in the league. The team finished the regular season with a 56-22-4 record.